Explaining Bond originators
Independent bond originators and bond companies are a dime a dozen – but are they all bond experts? Choose the SA bond companies that know bond origination like the back of their hands; SecuBond bond originators and Better Bond are market leaders in the field of bonds and home financing. Look no further than My Bond Quotes for free bond quotes at the right interest rates:
Lowest bond rates
Given their wealth of bond expertise, the bond originators and companies featured on My Bond Quotes are renowned for championing the consumer's cause. They know that you need the lowest interest rates available, and are not afraid to negotiate hard with banks and other financial institutions to secure the best bond rates!
Bond originators secure the best bonds
Given the ever-rising cost of property – not to mention rising interest rates – securing the lowest mortgage interest rates is key to affording your dream home. Bond originators such as ooba understand this requirement, and go the extra mile to insure that first-time home buyers and seasoned property investors alike get the right sized mortgage – at the right interest rate!
Choosing a bond type
Home bonds, also often referred to as home loans or mortgages, are the “primary loan type” for financing property. The most commonly approved bonds in South Africa include variable interest rate bonds, fixed rate bonds as well as Flexi-Bonds, which essentially combines fixed and prime rated linked features.
Many banks and bond companies in South Africa offer homeowners the option to get a line of credit against their own bond equity. These come packaged as the Access Bond by Standard Bank or the Elasti Bond by Virgin Money, to name but two examples. These work as follows: If your total bond amount was R400 000, for example, and you have paid off R100 000, you'd have access to a loan amount of roughly R80 000 at any given time – at the same interest rate that applies to your bond repayments.
Standard bond interest rates are linked to the prime lending rate, yet fixed-rate bonds are also an option. Although fixed-rate bonds can protect the homeowner from unanticipated interest rate hikes for as long as the rate is fixed, banks need to hedge their risk exposure in extending such a bond, and thus tend to fix interest rates higher than inflation-linked bonds and mortgage loans.
Bond calculators are fine – but do speak to a bond originator!
Using a bond calculator to determine what you can afford, or to calculate monthly bond repayments, is fine – but getting a 100% obligation free bond quote is by far the most accurate way of establishing your property buying position. Additionally, a qualified bond originator will also be able to advise you on which type of bond or home loan would best suit your financial profile and personal needs.